Mozambique is on track to attract foreign investment – CPLP

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Mozambique is on track to attract foreign investment – CPLP

10:08 CAT | 26 Jun 2019

Francisco Riebeiro Telles speaks to the press in Maputo. [Photo: AIM]

Francisco Ribeiro Telles, the executive secretary of the Community of Portuguese Speaking Countries (CPLP), said on Friday (June 21) in Mozambique that the country was on “the right path” as far as attracting foreign investment was concerned.

Mozambique was “well on its way” to securing international support to develop the country, he told Lusa news agency on the sidelines of the US-Africa summit in Maputo.

“The private sector will more and more play a relevant role in African economies, and Mozambique is a pioneer in this area,” Telles added.

The CPLP executive secretary is participating in the summit in the Mozambican capital until Friday, a meeting that signals the primacy of the business community.

“The recent contract that Mozambique has established with the US for gas exploration is important for the future of Mozambique and, above all, it gives a relevant signal to the private sector,” Telles told Lusa regarding the agreement signed with the consortium led by oil company Anadarko.

The investment formalised last Tuesday in Maputo for the extraction, liquefaction and export of natural gas from 2024, is valued at US$25 billion.

This was Ribeiro Telles’ first official visit to Mozambique as CPLP leader. He held a meeting with Mozambique’s President Filipe Nyusi on Thursday.

In addition to the community agenda, the meeting addressed “the growing interest that the CPLP is awakening on the international scene”, bearing in mind that the organisation currently has “17 associated countries”, when three years ago it had only three, “and this is revealing,” Ribeiro Telles concluded.

Source: Lusa